Book Publishing: Does the Industry Need a Shakeup?

Recently, there have been a number of discussions within the literature market about the way the industry is moving, as various publishers and authors comment on the prices of books. I recently wrote a POST about the issue of book prices and how the industry needs to reassess its views on cheap books, which could revolutionise the way readers buy their texts.

Wading into the argument now is online book retailer Amazon, which has just launched its first physical book shop. The firm’s publishing chief David Naggar has urged publishers to reduce the price of its books to 99p in the same way that the online giant does in order to attract buyers, similar to the way self published authors often do on the company’s platform.

Adding to this, there is evidence that children’s literature has seen a rise as kids embrace physical books over ebooks. With physical texts growing in popularity, but many authors increasingly aggravated over the amount of money they receive, could the market be to blame?

After all, the TV and film sector was revolutionised by online streaming services, which completely changed the way people rented shows and movies. Instead of borrowing a physical copy of one individual series or film, streaming services allowed users to pay a one-off subscription fee and gain access to an online library with a wide variety of options from various genres to choose from. Whilst singular episodes and films can still be rented on various platforms, streaming services have now become the norm and have completely changed the visual entertainment market, opening the door to a vast array of new options for both viewers and creatives.

With platforms keen to offer their own, unique shows and movies to entice viewers and encourage them to sign up to their streaming services, there is now a massive choice for viewers. Whilst an exact replica of this market is not viable for the literature industry, there is definitely scope for change, and it is my view that publishers should look into amending the way they publish, market and sell both physical texts and ebooks.